Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1887-05-21
THE STATE OF TRADE.
THE RByOKING OF THE SHORT HAUL
CLAUSE THB IMPORTANT NEWS
OF the Wssk-Ths Revolution in Business NUS
Visible Effects Of the Law-The
Numerous Labor FrOublss-Ths Money
Market and Speculation.

NEW YORK, May 2O.-R. G. Dun q Co.,
in their weekly trade review, say: The
most important news Of the week, II coh-
firmed, is that the Interstate Commerce
Commission will revoke all temporary sus-
pensions of the short haul clause, termin-
ating them July 1st. The revolution ID
business must, therefore, progress until lts
full effects have been realized. Some oi
them are seen in contracts taken by the
Canadian Pacific to move eastward the
wool of California and 10, OOO, 600 pounds
of sugar and in the marked revival OF ship
ments around the Horn. Others appear In
the decline Of trade at larger centres of
distribution and manufacture and increase
of distribution at smaller towns, with up
springing of new manu- featuring works at
many localities. For twenty-five years
the railroads have been annihilating bar
riers of distance. The new law tends to
restore old barriers and to put sections,
cities and towns farther away from each
other. Closely connected with this are
THE NUMEROUS LABOR TROUBLES,
most of which grow out of narrowed fields
for distribution of products. Local re-
ceipts are still generally encouraging, with
no instance of unusual delay IN collections.
Where business is deemed dull, it Is every
case pronounced larger than at the same
season last year.
A remarkable feature Is that money Is
reported in abundant supply everywhere
except Chicago and New York, while the
demand is said to be more limited at De-
troit, but very good at Cleveland. Where
highest rates are reported as at Omaha, 3
to 10 per cent, capitalists offer banks large
sums at 6 per cent, which are refused.
Real estate speculation is maintained
there and at other points by rapid invest
ment of local and Eastern capital. AT
Nashville the ruling excitement IS the
coming sale of lots in the new town, west
Nashville. where new iron works are to be
located. The increased demand for money
at Chicago springs from wheat speculation,
and produce operators are buslly seeking
assurances of more aid from banks, while
New York exchange falls to 40 per cent
discount.
GRAIN.
Wheat rose &c last Saturday. but weak
ened again, and after week of uncertain
ty. with sales of 1000, 900 bushels, closed
less than a cent above last week. Corn
and oats are weaker Oil is over lc lower.
Pork products are dull and sugar un-
changed In coffee, there has been wild
advance, with sales of 925, 900 bags, but
the rise of 1c is wholly speculative. Stock
speculation has been active, with some
advance, but the American public Is not
absorbing securities. The enormous offer
ings.on Paris loan and the low rate OF
money ut London, account for the tempo
rary use of large amounts here.
The weak point is decline of Q per
cent i'll produce exports for the past three
weeks against an increase OF per cent IN
imports.
IN DRY GOODS
strong improvement in cotton causes an
advance in prices of many brown and
bleacbed goods and drills with standard
browns at Il cents, hut the exceeding dull
ness in woolens continues unrelieved. Re
cent heavy failures of German houses in
the American trade discloses Overproduc-
ton and Improbable competition on that
side.
The business failures during the last Z
days number for the United States l52, for
Canada %, total lS0, against l67 last week,
lS2 the week previous to last, and l67 for
the corresponding week last year. Fail
ures south are very light, in other sections
OF the country are below the average, per
haps except in the Pacific States and Can
| ada where cnsnaltirS are on the increase